Trans-siberian Gold Share Discussion Threads

[oldasiahand] 23/11/2006 14:41

This a freaking disaster. Gold is still there. The Russkies are incompetent, on the surface, and are flushinhg the farangs out to keep all the gelt for themselves. Bring back the Cold War I say!

[spikers] 23/11/2006 12:32

It looks like the management team will have to do the digging themselves.
Another speccy miner going down the drain.
Sell at will.

[oldasiahand] 17/11/2006 12:59

Anyone heard anything? Looks bad but I'm here in Manila and out of touch.

[wiganer] 18/10/2006 18:32

Trans-Siberian Gold PLC
18 October 2006


Trans-Siberian Gold plc

AGM Statement


London: 18 October 2006 - Trans Siberian Gold plc ('TSG' or 'the Company')
reports that at the Annual General Meeting held today Mr Peter Burnell,
Chairman, made the following statement to shareholders:

'TSG has had to overcome a number of significant challenges during the last
twelve months. However, the recent appointment of Oleg Bagirov as Chief
Executive and the potential consolidation of the Company's operations in Far
East Russia represent a substantial step change in the Company's efforts to
become a profitable gold producer by 2008.

The proposed sale of the Company's projects at Veduga and Bogunay, together with
the US$50 million project financing facility from Standard Bank, will provide
the Company with the necessary funding for the development of Asacha without the
further dilution of existing Shareholders. This represents a highly positive
milestone in the Company's objective of bringing the Asacha mine into production
by 2008. The transaction with AngloGold Ashanti Limited ('AGA') is proceeding
normally and we will make a further announcement in due course.

We are pleased to have the continued strong support of AGA and their technical
expertise and assistance on Asacha. We have also received significant backing at
a local level from our major shareholder, UFG Private Equity Fund ('UFG'), whose
knowledge and contacts within Russia have proved invaluable and through whom the
Company is considering purchasing a stake in its Kamchatka based exploration
subsidiary Sigma. Whilst this transaction is subject to further in-depth due
diligence and agreement on relative values, your board believes the combination
of interests envisaged by the transaction may provide an attractive prospect for
the future development of the Company's interests in Kamchatka beyond the Asacha
project. Subject to a satisfactory resolution of the above conditions, the
Company expects to be able to submit proposals to shareholders in respect of the
Sigma acquisition within the next three months.

With the removal of the funding risk for Asacha, the continued support of AGA,
the backing of a major, local partner and the potential expansion in the
Kamchatka province, the board believes the recent decline in the share price
does not reflect the true valuation and potential of the Company. It is worth
noting that the current share price puts a market value on the Company of less
than our cash resources following the completion of the AngloGold transaction.
The Company is on a much more secure footing than it has been for some time.'

All the resolutions for consideration at the AGM were approved by shareholders
apart from the resolution to re-elect Jocelyn Waller, which was withdrawn.


Ends

[wiganer] 18/10/2006 18:31

Trans-Siberian Gold PLC
18 October 2006


Trans-Siberian Gold plc

AGM Statement


London: 18 October 2006 - Trans Siberian Gold plc ('TSG' or 'the Company')
reports that at the Annual General Meeting held today Mr Peter Burnell,
Chairman, made the following statement to shareholders:

'TSG has had to overcome a number of significant challenges during the last
twelve months. However, the recent appointment of Oleg Bagirov as Chief
Executive and the potential consolidation of the Company's operations in Far
East Russia represent a substantial step change in the Company's efforts to
become a profitable gold producer by 2008.

The proposed sale of the Company's projects at Veduga and Bogunay, together with
the US$50 million project financing facility from Standard Bank, will provide
the Company with the necessary funding for the development of Asacha without the
further dilution of existing Shareholders. This represents a highly positive
milestone in the Company's objective of bringing the Asacha mine into production
by 2008. The transaction with AngloGold Ashanti Limited ('AGA') is proceeding
normally and we will make a further announcement in due course.

We are pleased to have the continued strong support of AGA and their technical
expertise and assistance on Asacha. We have also received significant backing at
a local level from our major shareholder, UFG Private Equity Fund ('UFG'), whose
knowledge and contacts within Russia have proved invaluable and through whom the
Company is considering purchasing a stake in its Kamchatka based exploration
subsidiary Sigma. Whilst this transaction is subject to further in-depth due
diligence and agreement on relative values, your board believes the combination
of interests envisaged by the transaction may provide an attractive prospect for
the future development of the Company's interests in Kamchatka beyond the Asacha
project. Subject to a satisfactory resolution of the above conditions, the
Company expects to be able to submit proposals to shareholders in respect of the
Sigma acquisition within the next three months.

With the removal of the funding risk for Asacha, the continued support of AGA,
the backing of a major, local partner and the potential expansion in the
Kamchatka province, the board believes the recent decline in the share price
does not reflect the true valuation and potential of the Company. It is worth
noting that the current share price puts a market value on the Company of less
than our cash resources following the completion of the AngloGold transaction.
The Company is on a much more secure footing than it has been for some time.'

All the resolutions for consideration at the AGM were approved by shareholders
apart from the resolution to re-elect Jocelyn Waller, which was withdrawn.


Ends

[gingerplant] 17/10/2006 09:41

Trouble is it's in Russia. At the moment, Russian and ex Soviet States seem to be stealing back assets from foreign companies that have invested in the countries (witness Oxus gold, B.P. Shell and others).

It wouldn't surprise me if, like Oxus, they build all the mining infrastructure and prove up all the reserves, only to have their license removed and the assets seized illegally.

I suspect that fears like this are what is causing the share price to fall???

[oldasiahand] 16/10/2006 17:13

Makes the shares a screaming buy for a third party who wants to come in and rationalise things. Something WILL happen but as Vera Lynn said 'don't know where, don't know when'. The situation has become almost incredibly complex with a large amount of shuffling of assets still to come. The shares are worth a lot more with proper management.

[gingerplant] 16/10/2006 15:57

Adam

Sorry to be so bone idle - but could you explain this?

below the $40m they are due to receive

[oldasiahand] 16/10/2006 14:56

Sorry make that [e-mail]

[oldasiahand] 16/10/2006 14:49

Could be the old Managing Director getting out since he is leaving the board. If you want to send me a phone number at [e-mail] we could have a chat and swap what we might have heard.

[adam] 16/10/2006 12:06

I am reliably informed there is a "distressed seller" who will take down to 57p. There is 40k shares left to go, and they are coming though house broker Seymour Pierce. I am of the view that this is not a distressed seller but insider dealing. I am also less than impressed with the reputation of Seymour Pierce. It could be I am being overly critical and there is nothing untoward going on. However, Russia being Russia, and a precipitous decline in a share price where the m/cap is now below the $40m they are due to receive makes one highly nervous.

[adam] 16/10/2006 11:08

Something stinks here for sure.

[oldasiahand] 16/10/2006 11:01

Looks like a repeat of last year. Drive the price down so the Russkies can get the rest cheap. Minorities seem about to get the shaft again. Hear that they are squeezing some independent directors off the board at upcoming AGM.

[oldasiahand] 14/10/2006 19:39

Understand deal closing alright but Rissians and Anglo Gold may not be getting along. Time for a white night to buy us out! AGM on 19 October.

[adam] 13/10/2006 15:29

spoke too soon, seems well offered last few days. One wonders if there is a problem with the deal closing or just off the radar.

[adam] 22/9/2006 10:52

The market is such that people look for excuses to sell. The market I perceive is in "boom over" mode. Not without some justification in my view.
On such a significant announcement yesterday we got 16k shares traded. The only trade today so far has been a cross-trade for 5k shares. You have to laugh...

[oldasiahand] 22/9/2006 02:44

I suspect that not also getting listed in Canada has held the price back. It's the sort of thing the little guys would have jumped on if properly promoted.

[oldasiahand] 22/9/2006 01:40

Adam. I agree with all you say, indeed, have said much of it myself. I have been with this pre IPo and I'm just a little frustrated that the market is still so skeptical. I went in on the expectation of an increasing gold price (happened in spades), an improvement in the perception of russian risk (that happened but now is increasing again see Shell in Kamchatka), a strong partner (AGA and then the Russkies along with EBRD etc.). Money raised, doubts eased and we are still at 70p! Just have to hang in there since I still expect the gold price to remain strong.

[wiganer] 21/9/2006 17:06

ah, thanks adam- my buy was only 3k, and was able to buy instantly, wasn't aware of difficulties of buying in size.

[adam] 21/9/2006 17:01

On the basis that I couldn't buy any! I had a bid in for 50k inside the spread and got no counters even at the touch.
6 months ago if a vehicle had come to market with over $40m in cash, en ex-Russian finance minister with 30% and Anglogold Ashanti having 30% plus a resource base of 1m oz, a BFS, and a debt facility in place for $50m, what would it be capped at?.... More than $55m I would venture...

p.s. net current assets at June was $28m (obviouly much reduced now... but also capitalised) before the $40m from Veduga... Surely this is a gimme?

[wiganer] 21/9/2006 16:55

adam- on what do you base your assessment that there is a "lack of stock"?

[adam] 21/9/2006 16:46

OAH. A possibility, but I would think not that large a probability. AGA clearly have got what they want (Veduga at $15/oz) all be it that it suits TSG shareholders too. (N.B they have already sold it on to a JV vehicle with Polymetal - the Olympiada owners in close proximity with Veduga). I think they actually want this vehicle (TSG) to work for them, so taking it private given today's developments would seem illogical especcially since they could have done so at an earlier date far cheaper. AGA have been quite helpul - soft loans, expertise, buying Veduga at an admittedly cheap but not derisory price (considerations as noted in the press release as per grid power et al). An operating 100koz mine would trade at circa $150m - $200m. Discounting Russia political risk and 2 years to production can halve that, but still over current m/cap. Then I would regard prospectivity of Kamchatca and gaining cheap resources (as per mooted deal) worth an uplift in value. I am positively excited about the shareholder base, in present circumstance I see it as more of an asset than a risk. With any luck this development will attract some more institutions to want to take a position and given lack of stock it should push the price up a lot.

[wiganer] 21/9/2006 16:29

£1 a share would do me fine- would give me a 35% profit. ;-)

[oldasiahand] 21/9/2006 16:22

Look for the two main shareholders to make an offer for the minorities before too long. Bet they don't offer much more than a quid. At $600 an ounce Asacha will produce $60 million revnues per share for a few years say $1.20 a shares or 60p. Discounted that has to be worth 2 quid but the shysters will try and get it for a lot less. Wanna bet?